IVD Medical shifts stablecoin strategy, shelves crypto acquisitions

IVD Medical Holding announced a strategic shift in its stablecoin strategy, now prioritizing an application for a US stablecoin license due to advanced regulatory developments, while still considering a Hong Kong stablecoin license. The company intends to raise funds through preference shares, convertible bonds, or internal resources to bolster its US dollar reserves for this application. The proprietary IVDD stablecoin proposal for medical RWA assets is preliminary and does not currently meet regulatory requirements in Hong Kong or the US.

The board decided not to proceed with the specific mandate for potential cryptocurrency acquisitions up to HK$3 bn, which was slated for an extraordinary meeting. Future purchases of ETH will be announced in compliance with Chapter 14 of the Listing Rules.

Additionally, the discloseable transaction for the acquisition of 1,848,496,429 shares in GoFintech Quantum Innovation Limited (representing approximately 20.31% of its issued share capital) has lapsed. The conditional sale and purchase agreement terminated on October 31, 2025, as certain conditions precedent were not fulfilled or waived by the long stop date.